Finding 622102 (2022-002)

Significant Deficiency
Requirement
B
Questioned Costs
-
Year
2022
Accepted
2023-09-29
Audit: 51318
Organization: America's Poison Centers (VA)

AI Summary

  • Core Issue: Incomplete reconciliation of accounts prior to the audit led to discrepancies in financial statements.
  • Impacted Requirements: Compliance with CFR 200.302 for effective financial management and safeguarding of Federal funds.
  • Recommended Follow-Up: Enhance year-end closing procedures to ensure all accounts are reconciled and implement documented approval for key reconciliations.

Finding Text

Finding 2022-002: Year-End Closing Information on the Federal Programs: 93.070 Criteria: In accordance with CFR 200.302 the financial management system of each non-Federal entity must provide for effective control over, and accountability for, all funds, property, and other assets. The non-Federal entity must adequately safeguard all assets and assure that they are used solely for authorized purposes. Condition: At the commencement of the audit, we noted certain schedules included variances from the trial balance. We posted three entries resulting in a net decrease to net income of $38,647. Cause: Certain accounts and schedules had not been fully reconciled prior to the commencement of the audit. Effect or Potential Effect: Effective year-end closing procedures are important to avoid potential loss of Federal funds. Questioned Costs: Undetermined Context: APC's closing process did not identify some changes necessary. Identification as a Repeat Finding: N/A Recommendation: We recommend that APC pay additional attention to the closing process to ensure that all accounts are reconciled in advance of the audit. Review and approval procedures should be in place to ensure that errors are detected. We recommend that approval of key reconciliations be documented.

Categories

Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 45657 2022-001
    Significant Deficiency
  • 45658 2022-002
    Significant Deficiency
  • 45659 2022-001
    Significant Deficiency
  • 45660 2022-002
    Significant Deficiency
  • 622099 2022-001
    Significant Deficiency
  • 622100 2022-002
    Significant Deficiency
  • 622101 2022-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
93.070 Environmental Public Health and Emergency Response $795,974